BioPharmX Secures $9,900,000 New Funding
- Feed Type
- Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ed091573-ea25-459f-a8ff-5827a2d68e66 - Date
6/25/2015 - Company Name
BioPharmX - Mailing Address
1098 Hamilton Court Menlo Park, CA 94025 USA - Company Description
BioPharmX, Inc. (NYSE: BPMX) provides innovative drug-delivery products through its unique, patented platform technologies for pharmaceutical and OTC applications. - Website
http://www.biopharmx.com - Transaction Type
IPO - Transaction Amount
$9,900,000 - Transaction Round
Undisclosed - Proceeds Purposes
As of April 30, 2015, we had cash of $0.5 million. We currently intend to use the net proceeds we receive from this offering and the KIP private placement, together with our existing cash, as follows: approximately $4.0 million for research and development expenses associated with the development of our product candidates and research and development pipeline; approximately $3.0 million for marketing and advertising expense to build awareness and sell through volume at drug stores and supplement stores for VI2OLET; and the balance to be used primarily to fund working capital, capital expenditures and other general corporate purposes, including strategic hires. - M&A Terms
